Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

CERTAIN VEHICLES ORIGINALLY BUILT WITH CLOTH SEATS THAT WERE EQUIPPED WITH AN AUTOMATIC AIR BAG PASSENGER SENSING SYSTEM AND LATER REUPHOLSTERED WITH AFTERMARKET LEATHER SEAT COVER KITS ARE INVOLVED. TESTING HAS INDICATED THAT THE AFTERMARKET LEATHER SEAT COVERS CAN CAUSE THE PASSENGER SENSING SYSTEM TO MALFUNCTION.

Consequences:

IF THE PASSENGER SENSING SYSTEM MALFUNCTIONS, THE FRONT AIR BAG ON THE PASSENGER SIDE MAY BE DISABLED WHEN IT SHOULD BE ENABLED, OR ENABLED WHEN IT SHOULD BE DISABLED. IN EITHER CASE, IN THE EVENT OF A CRASH THAT REQUIRES AIR BAG DEPLOYMENT, A FRONT PASSENGER'S LEVEL OF INJURY MAY BE INCREASED.

Remedy:

BECAUSE A REPLACEMENT LEATHER SEAT COVER THAT IS COMPATIBLE WITH THE PASSENGER SENSING SYSTEM IS NOT AVAILABLE, GENERAL MOTORS (GM) WILL REPURCHASE THESE VEHICLES IN ACCORDANCE WITH THE TERMS STATED IN GM'S LETTER TO OWNERS. THE RECALL BEGAN ON NOVEMBER 6, 2006. OWNERS SHOULD CONTACT GM AT 1-877-477-1022 TO BEGIN THE PROCESS OF REPURCHASING THEIR VEHICLE.

CERTAIN SPORT UTILITY VEHICLES FAIL TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 212, 'WINDSHIELD MOUNTING.' THE WINDSHIELD URETHANE BEAD MAY NOT HAVE ADHERED TO THE BODY IN CERTAIN AREAS DURING THE CURE PROCESS.

Consequences:

IF A CRASH OCCURS, THE WINDSHIELD MAY NOT BE RETAINED, INCREASING THE RISK OF INJURY TO A VEHICLE OCCUPANT.

Remedy:

DEALERS WILL REPLACE THE WINDSHIELD FREE OF CHARGE. THE RECALL BEGAN ON MARCH 10, 2005. OWNERS MAY CONTACT BUICK AT 1-866-608-8080, CHEVROLET AT 1-800-630-2438, OR GMC AT 1-866-996-9463.